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Prime Minister Askar Mamin: Projects of the “economy of simple things” are a tool for developing small and medium-sized businesses

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As noted by Elbasy, the development of entrepreneurship is one of the most important priorities of the Government’s work, the Prime Minister stressed, reminding that the Cabinet of Ministers faces the task of strengthening the role of small and medium-sized businesses and bringing its share in the country’s economy to 35% by 2025.

The Business Road Map – 2020 program has proven its effectiveness and is one of the most sought-after tools from the country’s business community.

For the implementation of the program in 2019, 71.8 billion tenge was allocated, said Askar Mamin. It is indicated that during the implementation of the program have achieved good results in the development of small and medium-sized businesses of the city of Almaty and Nur-Sultan, Atyrau and Kostanay regions. Regarding the other regions, including those heard during the Government meeting, the Head of Government instructed to intensify work in these areas.

The Prime Minister instructed to pay attention to a number of specific tasks.

First. It is necessary to increase and accurately control the pace of development of funds allocated on behalf of Elbasy aimed at lending priority projects of the economy of simple things for 600 billion tenge.

At present, there are 350 applications from entrepreneurs for 310.4 billion tenge in work, including second-tier banks.

The Ministry of Industry and Infrastructure Development, jointly with Atameken NCE and government agencies, has been instructed to speed up the work of the project office created as part of the development of the economy of simple things.

The Ministry of National Economy is should submit a draft resolution on approving a mechanism for guaranteeing priority projects within the framework of the economy of simple things and granting the right to finance working capital up to 50% of the loan amount.

The Ministry of Agriculture is charged with providing subsidies for loans in the agricultural sector in the framework of the development of the economy of simple things.

Akimats, in turn, need to strengthen the information work on attracting new projects that meet the requirements of the program.

Second. Akimats, to give impetus to the program, were instructed to consider additional funding for subsidizing and guaranteeing business projects.

Within the framework of the Business Roadmap-2020 program, there are positive examples of resolving issues of providing financial support: the Shymkent akimat allocated 600 million tenge for subsidies and 250 million tenge for project guaranteeing, the akimat of Atyrau region also allocated 600 million tenge for subsidizing under the program.

Third. Atameken National Chamber needs to improve the efficiency of training in a business school to increase the number of people who have started their business.

On all the above issues, urgent measures should be taken to implement the program, the Prime Minister Askar Mamin emphasized, having instructed to develop and approve the next stage of the Business Road Map Program from 2020 to 2025 as soon as possible.

Source: The Prime Minister of Kazakhstan

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